Indian Oil Corporation Ltd. (IOC), the country’s second-largest producer of petroleum coke, has revised pet coke prices from its various refineries w.e.f. 13th May’20.
IOC has revised pet coke price at Koyali refinery for road supplies to INR 6,150/MT from INR 7,000/MT, a decrease of INR 850/MT over last month. Price for rake loading has been also decreased by INR 850/MT to INR 5,950/MT from INR 6,800/MT of last month.
Pet coke price at Panipat refinery for general states has been revised to INR 7,040/MT from INR 8,040/MT, a decrease of INR 1,000/MT. Pet coke Price for Punjab, Haryana, Jammu and Kashmir, Chandigarh is also revised to INR 7,140/MT from INR 8,370/MT, a decrease of INR 1,230/MT.
Pet coke price for road supplies at Paradip refinery is maintained at INR 6,170/MT, same as that of last month. Similarly, the price for rake supply is also maintained at INR 5,870/MT, same as last month price.
Pet coke price ex-Haldia has been also maintained at INR 6,340/MT for road supplies. The price applicable for rake supplies has been also maintained at INR 6,040/MT.
Price Commentaries
India’s largest pet coke producer Reliance Industries Ltd. (RIL) had decreased pet coke price w.e.f. 1st May’20 by INR 1,220/MT and the trend was followed by the country’s third-largest producer Naraya Energy (erstwhile Essar Oil). However, IndianOil responded differently and has decreased its prices from Koyali and Panipat refineries by varying amounts, while maintaining prices at Paradip and Haldia refineries.
The decrease in price at Koyali and Panipat refineries varies from INR 850/MT to INR 1,250/MT. These revisions are more or less similar to RIL, as possibly there are various common markets, which source the supplies from RIL and Nayara Energy besides IOC. Apart from this there are some markets in North India, which have different logistics and marketing conditions.
There have been no revisions at Paradip and Haldia possibly due to the reasons that marketing conditions at these refineries are totally different and do not follow the trend of RIL closely. Local marketing conditions are predominant factors for price revisions at these refineries.
At Panipat, the price for northern states (as mentioned above) is higher by INR 100/MT in this month which was INR 330/MT in the last month. While the price for rake supplies is lower than road supplies at Koyali by INR 200/MT, at Paradip and Haldia, it is lower by INR 300/MT.
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